The South Carolina State Housing Finance and Development Authority (SC State Housing) released its draft 2012 Qualified Allocation Plan (QAP) and proposed 2012 Low-Income Housing Tax Credit (LIHTC) Manual. Significant changes include:

  • Applicants wishing to receive points based on positive site characteristics must now submit area site plans/maps with one quarter (1/4) mile, one half (1/2) mile and 1 mile radius circles drawn showing the location of services near the proposed site and color photographs/the names of all proposed services;
  • Two points will now be deducted for any project within one quarter (1/4) mile of an operating industrial facility, including but not limited to: steel manufacturers, oil refineries, ports, chemical plants, plastic manufacturers, airports, automotive and engine parts manufactures and food processing plants;
  • Points will now be awarded for successful completion of LIHTC developments in South Carolina that have been placed in service within the last ten years, have received 8609s and are in compliance with all Section 42 and SC State Housing compliance rules and regulations. A half of a point will be awarded for 1 LIHTC project, 1 point for 2 projects, 1 and a half points for 3 projects and 2 points for 4 LIHTC projects;
  • The rules for determining tie breakers between applications have been altered;
  • The agency now requires all market analysts to be on a SC State Housing-approved market analyst list. View the South Carolina Request for Qualifications for those who wish to be on the state-approved market analyst list;
  • South Carolina recently agreed to adopt NCAHMA’s Model Content Standards and has included those requirements in the updated 2012 LIHTC Manual. Learn more about NCAHMA;
  • The updated LIHTC Manual details significant application and market study fee changes.

A public hearing regarding the proposed 2012 QAP will be held on October 31, 2011 at the Authority’s Office, 300-C Outlet Pointe Blvd, Columbia, SC from 10:00 am to 12:00 pm. The application deadline is scheduled for 5:00 pm on March 23, 2012.

To view the proposed 2012 QAP, click here.
To view the proposed 2012 LIHTC Manual, click here.